Bitcoin exchange Bull Bitcoin has petitioned France's Council of State to strike down EU's DAC8 crypto tax reporting rules, citing risks of mass data leaks and increased danger to crypto holders due to potential kidnappings and wrench attacks.
India's tax department found significant gaps in crypto tax reporting, with less than a quarter of individuals reporting transactions. Offshore exchanges and private wallets complicate tracking, adding a tax enforcement dimension to policy debates.
Illinois has enacted a $55.9 billion budget featuring a first-of-its-kind 0.2% tax on crypto assets, set to take effect in January 2027. The Digital Asset Tax Act will levy a privilege tax on digital asset brokers for customer transactions, drawing sharp criticism from industry leaders concerned about discriminatory practices and potential capital flight.
A hawkish stance from the Federal Reserve, signaled by updated rate projections and commentary from Chair Kevin Warsh, led to a sharp market reaction, with crypto majors falling 1%. Illinois became the first state to pass a direct crypto tax, a 0.2% levy on digital asset transactions set to take effect in 2027.
Crypto markets experienced a decline ahead of CPI data, influenced by geopolitical events and the release of Anthropic's Claude Fable 5. Meanwhile, crypto tax reform bills face delays in the House, and Morpho secured $175M to expand its onchain credit network.
A House hearing on six GOP crypto tax bills exposed a lack of bipartisan consensus, with Democrats questioning exemptions for staking and mining rewards and industry leaders pushing for broader tax relief on everyday crypto payments.
Bitcoin rebounds to $63.5k after a brief dip below $60k, ZEC surges 50% on Ironwood proposal, SpaceX prepares for a $75 billion IPO, and Congress advances 7 crypto tax bills.
The US House Ways and Means Committee has released seven draft bills to clarify and simplify digital asset taxation, including reduced paperwork for crypto holders, clarity on mining/staking, and a potential 'de minimis' exception for small transactions, ahead of a Tuesday hearing.
House Republicans introduce 7 crypto tax bills for a Tuesday hearing, including exemptions for staking rewards and $10 de minimis for gas fees, but stop short of broader exemptions for everyday crypto purchases.
Israel's tax authority expected to collect up to $1 billion from voluntary cryptocurrency disclosures but has only received reports of $50 million in capital earnings so far. The policy offers immunity from criminal charges for those correcting past tax reports, but a lack of anonymity and perceived low risk assessment for some taxpayers has weakened incentives.
Japanese LDP lawmakers are pushing for crypto tax reforms and support for yen-denominated stablecoins. Recommendations include ETF frameworks and doubling leverage caps for derivatives trading.
A petition opposing South Korea's 22% tax on crypto gains, set for January 2027, has surpassed 50,000 signatures, triggering a review by the Finance and Economic Planning Committee. Critics argue the tax burdens investors, limits opportunities for younger generations, and could harm the country's crypto market.
Germany may overhaul its crypto tax rules from 2027, potentially curbing the country’s hallmark one-year tax-free holding rule as it tightens enforcement and seeks extra revenue.
South Korea’s Finance Ministry has reportedly confirmed for the first time that a 22% tax on crypto gains will proceed as scheduled in January 2027.
The crypto exchange advocated for two key changes to US tax law affecting crypto users to “eliminate millions of unnecessary forms.”
The crypto exchange advocated for two key changes to US tax law affecting crypto users to “eliminate millions of unnecessary forms.”
